Creditspring saves hours each week with Stitch and Periscope Data
UK-based Creditspring is a lender, but its business model differs from that of a bank. For a fixed monthly membership of £6, customers can draw two advances of £250 a year, and pay back the principal over four months, without paying any interest. Sarah Touzani, head of operations at Creditspring, says, "We view ourselves as Spotify or Netflix for loans."
The company works with a lot of data. "Before we accept people as members we have to run credit checks to see if the loans are affordable," Touzani says. "We get a lot of data from the credit bureaus. In addition, our UX team uses Mixpanel to track how people behave on the website. Our marketing team runs Google Ads and Facebook Ads, and we want to know if an ad is attracting the customers we want."
"The amount of data we work with is huge. At first we tried to manage it with Excel, using CSV exports from all the tools we were using, but that was difficult and time-consuming.
"We started looking at tools to hold all of our data in the same place, and make it accessible to all the teams in the company. Not everyone is able to code in SQL, so we needed something that would be easy for everyone to use. We looked at several BI tools. Periscope Data was one of the most cost-effective, and the company offered an option to have someone from their team build our dashboards to start, which was really helpful, since we have a small team and building dashboards would have taken people away from the jobs they needed to do.
"Next, we needed an ETL tool to keep the data from all of our sources updated automatically. Among the platforms we looked at, Stitch was the most cost-effective for us to connect to our five data sources: Mixpanel, Facebook Ads, Google Analytics, Google Ads, and Zendesk."
Getting started with Stitch was super easy.
Head of Operations
"Getting started with Stitch was super easy. I did the connections, and I gave access to our PostgreSQL data warehouse to Periscope so they could create the dashboards.
"Today everything is running smoothly. Before we implemented Stitch and Periscope, every team — engineering, design, finance, marketing, and ops — had to spend maybe an hour a week to update their dashboards. Now the data is updated automatically, and we're able to get way more information than what we had before. As a result, we're able to make better-informed business decisions."
Before we implemented Stitch and Periscope, every team had to spend maybe an hour a week to update their dashboards. Now the data is updated automatically, and we're able to get way more information than what we had before.
Head of Operations